The previous three years have been incredibly difficult for SMEs. A couple of the challenges SMEs have had to overcome in the last three years include Brexit and the COVID-19 pandemic, which brought about persistent supply chain issues. In this blog, we talk about how these crises affect SMEs globally, the effects and the solution.
The current situation
A period of high inflation and slow economic development is known as stagflation. A replay of the stagflation of the 1970s, according to some, is on the horizon for the UK. Together with slow growth, the UK’s inflation rate has reached its highest point in 30 years.
This means businesses are being forced to pay greater wages to recruit and retain employees, which raises the cost to both consumers and companies.
How can expanding companies manage their liquidity?
Even though these circumstances are difficult for businesses, some of them view the opportunity as a chance to become more aggressive, inventive, and competitive than they could be in less certain times.
This might involve making investments in new product lines, expanding into new foreign markets, and hiring personnel to carry out experimental projects that in the past would have been viewed as being too risky or unrelated to regular company operations.
Without having to navigate the hurdles put in their way by conventional lending facilities, SMEs may investigate some of the innovative options that can assist them in expanding their businesses.
At Apollo Business Finance, we assist SMEs in obtaining cash advances on individual bills that they are owed.
We work flexibly with your company – you can choose how many and which invoices you want to finance and when. This gives easy access to funds without incurring fees on every invoice or having to finance an ongoing credit line. It’s a model that works remarkably effectively for SMEs that might be providing services for industry giants or who are trading domestically and looking to explore new markets to grow their business.
How does this work?
With Apollo Invoice Finance, you can quickly expedite the payments you’re expecting. We approve your debtor or buyer, and credit ensures their payments; thus, no personal guarantees or further security are required.
The ability to move quickly is crucial for firms to succeed during adverse economic times. We make quick choices and streamline the procedure as much as possible for you.
In conclusion, we consider it our responsibility to provide our new and current clientele with critical operating capital so they may address impending emergencies. Resources are much more essential in these situations for surviving the storm.